Example ContractsClausesInitial Equity Grants
Initial Equity Grants
Initial Equity Grants contract clause examples

Initial Equity Grants. Executive will receive on the Start Date certain Initial Equity Grants. Such Initial Equity Grants will consist of # options to purchase shares of the Employer’s common stock, with a grant date fair value as of the Start Date of $330,000 and # restricted stock units representing shares of the Employer’s common stock, with a grant date fair value as of the Start Date of $670,000. The grant date fair values for the Initial Equity Grants will be based on Employer’s valuation methods and Employer’s common stock price on the Start Date, which will be equal to the mean between the lowest and highest reported sale prices of the Employer’s common stock. The options will have an exercise price equal to the common stock price on the Start Date and will vest and become fully exercisable as follows: 25% on the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date, subject to Executive’s continued employment through each vesting date. The options will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer’s common stock as follows, subject to Executive’s continued employment through each vesting date: 25% thirty days after the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Equity Grants. Within ten (10) days following the Start Date, Parent shall grant to the Executive a combination of RSUs and an option to purchase Common Stock (an “Option”) pursuant to the Plan and the forms of award agreements substantially in the forms attached hereto as Exhibit B and Exhibit C, respectively.

Initial Equity Grants. Executive will receive on the Start Date an award of # options to purchase 15,000 shares of the Employer’s common stock and # restricted stock units representing 20,000 shares of the Employer’s common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer’s common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer’s common stock as follows, subject to your continued employment through each vesting date: 25% thirty days after the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Upon initially becoming a Director, an individual shall be automatically entitled to receive an Award with a Fair Market Value (in the case of Options, as such value is determined by the Board in its sole discretion) on the date of grant equal

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 70,000 shares of Common Stock (an “Initial Option”) on the date of his or her initial election or appointment to be a Non-Employee Director.

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a nonqualified stock option to purchase 120,000 shares of Common Stock (a “First Director Option”) on the date of his or her initial election or appointment to be a Non-Employee Director. For the avoidance of doubt, the Executive Chairman of the Board will not be eligible to receive a First Director Option pursuant to this Section 2(a).

Initial Grants. Each person who first becomes a Non-Employee Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy, automatically will be granted a Nonstatutory Stock Option to purchase 120,000 shares of Common Stock (a “First Director Option”) on the date of his or her initial election or appointment to be a Non-Employee Director. For the avoidance of doubt, an executive chairman of the Board will not be eligible to receive a First Director Option pursuant to this Section 2(a).

Initial Grants. Each individual who is elected or appointed for the first time after the Effective Date to be a Non-Employee Director automatically will be granted, on the date of such initial election or appointment, a nonstatutory stock option to purchase 25,000 shares of Common Stock (an “Initial Option Grant”); and each individual who is a Non-Employee Director on the Effective Date will receive an Initial Option Grant on the Effective Date.

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